- Fruit/Herbal Tea
- Black Tea
- Green Tea
- Instant Tea
- Others
Tea Market size was valued at USD 20 billion in 2022 and is projected to reach USD 26.6 billion by 2029 growing at a CAGR of 4.90% from 2023 to 2029. Tea is an aromatic beverage that is usually prepared by infusing the dried crushed leaves of the tea plant in boiling water. Various types of tea available in various tastes and flavors. It is one of the most frequently consumed beverages all across the world. It has flavonoids, antioxidants, and phytochemicals, which enhance the functioning of human body. Tea manufacturers have been able to introduce premium and health-oriented goods as consumers' disposable incomes have increased. They've begun incorporating a variety of healthy ingredients into their organic tea blends in order to address some of the most frequent health issues, such as diabetes, beauty, obesity, and heart health. As a result, a shift toward the consumption of organic tea is a growing trend that is positively impacting the tea market growth. Tea is a low-cost beverage that is enjoyed by people of all socioeconomic backgrounds. Tea's popularity in developing countries such as India and China has been boosted by the fact that it is affordable to the general public, with the majority of people belonging to low-income groups. Tea's out-of-home industry has been growing in recent years, with a slew of tea lounges springing up all over the world. These lounges provide customers with a range of chosen teas from various areas, among other things.
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Increase in the consumer-base is the major factor influencing the growth of the market. Growing awareness among the people regarding the health benefits associated with the consumption of tea is anticipated to drive the growth of the market. The introduction of various flavors such as mint flavor, chocolate flavor, lemon flavor etc. is attributed for the growth of the market. The advent of instant or ready-to-drink tea, which is adding fuel for the growth of the market. However, the high cost of the raw materials and increasing cost of the agriculture inputs may hinder the growth of the market.
The tea market size was valued at USD 20 billion in 2022
The tea market key players are: Nestl S.A (Switzerland) The Republic of Tea (U.S) DavidsTea (Canada) Akbar Brothers Ltd (Sri Lanka) Associated British Foods (UK) Unilever (Netherlands) Starbucks Corporation (US) WISSOTZKY TEA (Russia)
The tea market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The tea market size was valued at USD 20 billion in 2022
The tea market key players are: Nestl S.A (Switzerland) The Republic of Tea (U.S) DavidsTea (Canada) Akbar Brothers Ltd (Sri Lanka) Associated British Foods (UK) Unilever (Netherlands) Starbucks Corporation (US) WISSOTZKY TEA (Russia)
The tea market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.